February 27, 2020 / 9:42 PM / a month ago

CORRECTED-EOG Resources quarterly adj. profit rises 10% on higher output (Feb.27)

(Corrects production in paragraph 3 to “barrels of oil equivalent (boe)” from “barrels of oil equivalent per day (boepd)”)

Feb 27 (Reuters) - U.S. shale producer EOG Resources Inc on Thursday reported a 10% rise in quarterly adjusted profit, as higher production offset weaker crude and natural gas prices.

Excluding items, profit rose to $787 million, or $1.35 per share, in the fourth quarter ended Dec. 31, from $718 million, or $1.24 per share, a year earlier.

The Houston-based company’s total production rose 11% to 78.2 million barrels of oil equivalent (boe). (Reporting by Arundhati Sarkar in Bengaluru; Editing by Shailesh Kuber)

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